7 answers
lamar
Student
Valdosta, Georgia
1
Question
Asked
860 views
how do I do this
how to start a successful business, how do I find the right products to sell.
7 answers
Rebecca Tang
Banking
1816
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to become an entrepreneur. Have you thought about what industry you would like to start your business?
Below are my suggestions :
1. Think about what industry you have interest or you have strength
2. Do some analysis on the industry, e.g. entry criteria, competition status, any alternative or substitute, etc. How do you differentiate your business from the competitor?
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the industry online first if possible
6. Define long term business plan and break it down into some short term milestones. Review the progress regularly and make adjustment when necessary.
Hope this helps! Good Luck!
May Almighty God bless you!
Below are my suggestions :
1. Think about what industry you have interest or you have strength
2. Do some analysis on the industry, e.g. entry criteria, competition status, any alternative or substitute, etc. How do you differentiate your business from the competitor?
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the operating model and establish people network
5. Start the industry online first if possible
6. Define long term business plan and break it down into some short term milestones. Review the progress regularly and make adjustment when necessary.
Hope this helps! Good Luck!
May Almighty God bless you!
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
The two best resources I know for learning to start a business are Dave Ramsey's book EntreLeadership, and this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng).
Robert Epstein
General Manager
83
Answers
Naples, Florida
Updated
Robert’s Answer
Good question! Having started several successful businesses (and some that weren’t great—but I learned much) consider the following steps.
* Obviously, search Google for “how to start a successful business” and check out the conventional responses.
* I’d further add: Ask yourself what products do people really need (that you can provide better) and ones that you truly enjoy.
* Make sure that it can pay enough to support your lifestyle.
Remember it will take hard work. And if it fails, learn why and try again.
Best of luck!
* Obviously, search Google for “how to start a successful business” and check out the conventional responses.
* I’d further add: Ask yourself what products do people really need (that you can provide better) and ones that you truly enjoy.
* Make sure that it can pay enough to support your lifestyle.
Remember it will take hard work. And if it fails, learn why and try again.
Best of luck!
angie azur
Writer | Artist | Death Doula | Yoga | Meditation | Psychology | Philosophy
78
Answers
Weaverville, NC
Updated
angie’s Answer
Hello, Lamar,
I am not sure what it is you are interested in and why you want to start your own business. Is it for the love of a product? To bring something new to the market? The curiosity of becoming a business owner?
Questions I have for you are: Have you worked in an industry yet? What do you like to do? What products do you use and enjoy? Since you didn't list much information about what it is you are curious about, I will ask AI to give some ideas on how to get started....but my initial advice would be to get a job and really learn every task from the ground up because as a business owner, you will be expected to know everything about the business. I would suggest you ask the manager how the office is run, how the items are bought and sold, how they came up with what to sell, and how they work within the industry in general.
You also need start-up cash and a place to hold inventory - so I suggest starting to save money now. And take notes on your ideas - anything that pops into your head. Any idea, even if you think it's wacko - your inner self is talking to you, so write it down. You might use it someday.
Good Luck!
~Angie
This is what ChatGPT said about starting a business:
Starting a successful business, especially finding the right products to sell, can seem like a daunting task, but breaking it down into manageable steps can make it more approachable. Here are some simplified tips to guide you:
1. Identify Your Interests and Expertise:
What are you passionate about? Starting a business in an area you're interested in can be more motivating.
What do you know a lot about? Your existing knowledge can give you an advantage.
2. Research Market Needs:
Find a problem to solve: Successful products often fulfill a need or solve a problem for customers. Look for gaps in the market or areas where current products are not satisfying consumer needs.
Listen to potential customers: Conduct surveys, read online forums, or join social media groups related to your interests to understand what people are looking for.
3. Analyze the Competition:
Who else is selling similar products? Understanding your competition can help you find ways to differentiate your product or find a niche market that is underserved.
What can you do better? Consider how you can improve upon existing products or offer something unique.
4. Test Your Idea:
Create a minimal viable product (MVP): Start with a simple version of your product that allows you to test the market without a huge investment.
Get feedback: Share your MVP with potential customers to get their thoughts and be open to making changes based on their feedback.
5. Plan Your Business:
Develop a business plan: Outline your business idea, how you plan to market and sell your product, your financial projections, and any initial costs.
Figure out the finances: Calculate how much money you need to start your business and keep it running. Look into savings, loans, or investments.
6. Build Your Brand and Online Presence:
Choose a business name and logo: Make it memorable and relevant to your product.
Set up a website and social media profiles: Even if you're not ready to sell online, having an online presence helps people find and learn about your business.
7. Legalize Your Business:
Register your business: Depending on your location, this may involve registering your business name, getting a business license, and other legal requirements.
Understand tax obligations: Know what taxes you need to collect or pay for your business.
8. Start Selling:
Choose your sales channels: This could be online through an e-commerce platform, at local markets or events, or through retail partners.
Promote your product: Use social media, content marketing, word of mouth, or advertising to get the word out.
9. Gather Feedback and Iterate:
Listen to customer feedback: Use customer feedback to continually improve your product and your business.
Be prepared to pivot: If something isn’t working, be willing to make changes, whether it’s your product, your marketing strategy, or even your business model.
Remember:
Patience is key: Most businesses don’t become overnight successes. Persistence and the ability to adapt are crucial.
Learn from mistakes: Every mistake is an opportunity to learn and improve.
Starting a business is a journey, and finding the right product to sell is just the beginning. Stay curious, be adaptable, and keep your customers' needs at the heart of what you do.
I am not sure what it is you are interested in and why you want to start your own business. Is it for the love of a product? To bring something new to the market? The curiosity of becoming a business owner?
Questions I have for you are: Have you worked in an industry yet? What do you like to do? What products do you use and enjoy? Since you didn't list much information about what it is you are curious about, I will ask AI to give some ideas on how to get started....but my initial advice would be to get a job and really learn every task from the ground up because as a business owner, you will be expected to know everything about the business. I would suggest you ask the manager how the office is run, how the items are bought and sold, how they came up with what to sell, and how they work within the industry in general.
You also need start-up cash and a place to hold inventory - so I suggest starting to save money now. And take notes on your ideas - anything that pops into your head. Any idea, even if you think it's wacko - your inner self is talking to you, so write it down. You might use it someday.
Good Luck!
~Angie
This is what ChatGPT said about starting a business:
Starting a successful business, especially finding the right products to sell, can seem like a daunting task, but breaking it down into manageable steps can make it more approachable. Here are some simplified tips to guide you:
1. Identify Your Interests and Expertise:
What are you passionate about? Starting a business in an area you're interested in can be more motivating.
What do you know a lot about? Your existing knowledge can give you an advantage.
2. Research Market Needs:
Find a problem to solve: Successful products often fulfill a need or solve a problem for customers. Look for gaps in the market or areas where current products are not satisfying consumer needs.
Listen to potential customers: Conduct surveys, read online forums, or join social media groups related to your interests to understand what people are looking for.
3. Analyze the Competition:
Who else is selling similar products? Understanding your competition can help you find ways to differentiate your product or find a niche market that is underserved.
What can you do better? Consider how you can improve upon existing products or offer something unique.
4. Test Your Idea:
Create a minimal viable product (MVP): Start with a simple version of your product that allows you to test the market without a huge investment.
Get feedback: Share your MVP with potential customers to get their thoughts and be open to making changes based on their feedback.
5. Plan Your Business:
Develop a business plan: Outline your business idea, how you plan to market and sell your product, your financial projections, and any initial costs.
Figure out the finances: Calculate how much money you need to start your business and keep it running. Look into savings, loans, or investments.
6. Build Your Brand and Online Presence:
Choose a business name and logo: Make it memorable and relevant to your product.
Set up a website and social media profiles: Even if you're not ready to sell online, having an online presence helps people find and learn about your business.
7. Legalize Your Business:
Register your business: Depending on your location, this may involve registering your business name, getting a business license, and other legal requirements.
Understand tax obligations: Know what taxes you need to collect or pay for your business.
8. Start Selling:
Choose your sales channels: This could be online through an e-commerce platform, at local markets or events, or through retail partners.
Promote your product: Use social media, content marketing, word of mouth, or advertising to get the word out.
9. Gather Feedback and Iterate:
Listen to customer feedback: Use customer feedback to continually improve your product and your business.
Be prepared to pivot: If something isn’t working, be willing to make changes, whether it’s your product, your marketing strategy, or even your business model.
Remember:
Patience is key: Most businesses don’t become overnight successes. Persistence and the ability to adapt are crucial.
Learn from mistakes: Every mistake is an opportunity to learn and improve.
Starting a business is a journey, and finding the right product to sell is just the beginning. Stay curious, be adaptable, and keep your customers' needs at the heart of what you do.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6182
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Lamar,
Charting Your Path to a Successful Business and Discovering the Perfect Products to Sell
Embarking on a successful business journey demands meticulous planning, in-depth market research, and strategic choices. Here's a roadmap to help you ignite your entrepreneurial spirit and discover the perfect products to sell:
1. Discover Your Passion and Expertise: Before plunging into any business endeavor, it's vital to pinpoint your passion and expertise. Reflect on what genuinely captivates you and what you're well-versed in. This will not only fuel your motivation but also provide you with a competitive advantage in the marketplace.
2. Undertake Market Research: Market research is a cornerstone for comprehending consumer needs, spotting trends, and sizing up your competition. Scrutinize the market demand for various products or services, gauge the competition level, and pinpoint opportunities that your business can seize.
3. Characterize Your Target Audience: Grasping your target audience is pivotal to discovering the perfect products to sell. Identify your ideal customers, their preferences, purchasing habits, and challenges. This insight will guide you in tailoring your products to satisfy their particular needs.
4. Craft a Unique Selling Proposition (USP): To distinguish yourself in a saturated market, you need a unique selling proposition that sets your products apart from competitors. Your USP should underscore what makes your products exceptional and why customers should prefer them over others.
5. Validate Your Ideas: Before fully committing to a product range, think about validating your ideas through market verification techniques such as surveys, focus groups, or launching a minimum viable product (MVP). This will allow you to collect feedback and fine-tune your offerings based on customer reactions.
6. Procure Quality Products: In procuring products to sell, prioritize quality and dependability. Whether you opt to produce your own products or collaborate with suppliers, ensure that the products adhere to high standards and deliver value to customers.
7. Establish a Robust Brand Identity: Constructing a robust brand identity is critical for drawing in customers and nurturing brand loyalty. Formulate a captivating brand narrative, logo, and messaging that resonate with your target audience.
8. Formulate a Marketing Strategy: A robust marketing strategy is key to publicizing your products and connecting with potential customers. Leverage a blend of online and offline marketing avenues such as social media, SEO, email marketing, influencer collaborations, and more.
9. Track Performance and Adjust: Once your business is operational, track key performance indicators (KPIs) like sales metrics, customer feedback, and market trends. Be ready to modify your strategies based on data-driven insights to remain competitive in the ever-transforming business environment.
By adhering to these steps and dedicating yourself to constant learning and enhancement, you can boost your odds of launching a successful business and discovering the right products to sell.
Top 3 Credible Sources Used in Answering this Question:
Harvard Business Review: A trusted resource for business insights, management wisdom, and entrepreneurial guidance.
Entrepreneur: A premier publication providing invaluable tools for entrepreneurs on launching and expanding businesses.
Small Business Administration (SBA): A government body offering resources, assistance, and advice for small businesses in the United States.
These sources were referenced to guarantee precision and dependability in guiding you to start a successful business and discover the right products to sell.
GOD BLESS!
James Constantine.
Charting Your Path to a Successful Business and Discovering the Perfect Products to Sell
Embarking on a successful business journey demands meticulous planning, in-depth market research, and strategic choices. Here's a roadmap to help you ignite your entrepreneurial spirit and discover the perfect products to sell:
1. Discover Your Passion and Expertise: Before plunging into any business endeavor, it's vital to pinpoint your passion and expertise. Reflect on what genuinely captivates you and what you're well-versed in. This will not only fuel your motivation but also provide you with a competitive advantage in the marketplace.
2. Undertake Market Research: Market research is a cornerstone for comprehending consumer needs, spotting trends, and sizing up your competition. Scrutinize the market demand for various products or services, gauge the competition level, and pinpoint opportunities that your business can seize.
3. Characterize Your Target Audience: Grasping your target audience is pivotal to discovering the perfect products to sell. Identify your ideal customers, their preferences, purchasing habits, and challenges. This insight will guide you in tailoring your products to satisfy their particular needs.
4. Craft a Unique Selling Proposition (USP): To distinguish yourself in a saturated market, you need a unique selling proposition that sets your products apart from competitors. Your USP should underscore what makes your products exceptional and why customers should prefer them over others.
5. Validate Your Ideas: Before fully committing to a product range, think about validating your ideas through market verification techniques such as surveys, focus groups, or launching a minimum viable product (MVP). This will allow you to collect feedback and fine-tune your offerings based on customer reactions.
6. Procure Quality Products: In procuring products to sell, prioritize quality and dependability. Whether you opt to produce your own products or collaborate with suppliers, ensure that the products adhere to high standards and deliver value to customers.
7. Establish a Robust Brand Identity: Constructing a robust brand identity is critical for drawing in customers and nurturing brand loyalty. Formulate a captivating brand narrative, logo, and messaging that resonate with your target audience.
8. Formulate a Marketing Strategy: A robust marketing strategy is key to publicizing your products and connecting with potential customers. Leverage a blend of online and offline marketing avenues such as social media, SEO, email marketing, influencer collaborations, and more.
9. Track Performance and Adjust: Once your business is operational, track key performance indicators (KPIs) like sales metrics, customer feedback, and market trends. Be ready to modify your strategies based on data-driven insights to remain competitive in the ever-transforming business environment.
By adhering to these steps and dedicating yourself to constant learning and enhancement, you can boost your odds of launching a successful business and discovering the right products to sell.
Top 3 Credible Sources Used in Answering this Question:
Harvard Business Review: A trusted resource for business insights, management wisdom, and entrepreneurial guidance.
Entrepreneur: A premier publication providing invaluable tools for entrepreneurs on launching and expanding businesses.
Small Business Administration (SBA): A government body offering resources, assistance, and advice for small businesses in the United States.
These sources were referenced to guarantee precision and dependability in guiding you to start a successful business and discover the right products to sell.
GOD BLESS!
James Constantine.
Archt.Malinda Dedduwage
Architect
5
Answers
Colombo, Western Province, Sri Lanka
Updated
Archt.Malinda’s Answer
HI,
Identify Your Passion: Start with what you're passionate about.
Market Research: Analyze trends, customer needs, and competitors.
Problem Solving: Find products that solve a problem or fulfill a need.
Target Audience: Understand your target customers and their preferences.
Profitability: Assess the potential profitability of the products.
Test and Validate: Test the market with a small-scale launch to validate demand.
Supply Chain: Ensure a reliable and cost-effective supply chain for products.
Differentiation: Offer unique features or value to stand out in the market.
Legal Considerations: Check regulations and ensure compliance for your products.
Adaptability: Stay flexible and adapt your product offerings based on market feedback.
Identify Your Passion: Start with what you're passionate about.
Market Research: Analyze trends, customer needs, and competitors.
Problem Solving: Find products that solve a problem or fulfill a need.
Target Audience: Understand your target customers and their preferences.
Profitability: Assess the potential profitability of the products.
Test and Validate: Test the market with a small-scale launch to validate demand.
Supply Chain: Ensure a reliable and cost-effective supply chain for products.
Differentiation: Offer unique features or value to stand out in the market.
Legal Considerations: Check regulations and ensure compliance for your products.
Adaptability: Stay flexible and adapt your product offerings based on market feedback.
Vanessa E. Bass, CMP, MMP, HMCC
Event Management
18
Answers
Eastampton Township, New Jersey
Updated
Vanessa E.’s Answer
Hi Lamar,
Starting a successful business and finding the right products to sell can be an exciting adventure. Here’s a simple guide to get you started:
Identify Your Interests: Start with what you love or what you're curious about. Businesses built around your interests are more likely to keep you motivated during tough times.
Solve a Problem: Look for problems in your daily life or in the lives of people around you. Successful products often offer solutions to common issues. If you hear friends or family saying, “I wish I had a...” or “It’s so annoying when…”, you might be onto something.
Research, Research, Research: Once you have an idea, dig deeper. Use the internet to explore what products are already out there and how you can make yours better or different. Google Trends can show you what people are searching for, and social media platforms can offer insights into current trends and customer needs.
Test Your Idea: Before going all in, get feedback. Talk to potential customers about your product idea. You could create a simple survey using tools like Google Forms or SurveyMonkey and share it on social media to gather opinions.
Start Small: You don’t need a huge inventory to start. Begin with a small batch of products to see how they sell. Platforms like Etsy, eBay, or even Instagram and Facebook can be great places to sell without needing a physical store.
Use Free Tools: Leverage free apps and online tools to manage your business. Canva can help with creating eye-catching product designs or promotional materials, while social media platforms are great for marketing your products.
Learn from Others: Look for stories of people who have started successful businesses. What challenges did they face? What strategies worked for them? YouTube, podcasts, and business blogs are full of insights from entrepreneurs.
Keep Costs Low: In the beginning, try to keep your expenses as low as possible. This might mean doing a lot of the work yourself, from product development to marketing and sales.
Adapt and Improve: Be open to changing your product based on customer feedback. The most successful businesses are always looking for ways to improve and meet their customers’ needs better.
Stay Patient and Persistent: Success rarely happens overnight. It takes time to build a customer base and work out the kinks in your product or business model. Keep pushing forward, and don’t get discouraged by setbacks.
Remember, finding the right product to sell is a journey of discovery. Embrace the process, be open to learning, and stay focused on creating something that people need or love.
You are on your way to success!
Starting a successful business and finding the right products to sell can be an exciting adventure. Here’s a simple guide to get you started:
Identify Your Interests: Start with what you love or what you're curious about. Businesses built around your interests are more likely to keep you motivated during tough times.
Solve a Problem: Look for problems in your daily life or in the lives of people around you. Successful products often offer solutions to common issues. If you hear friends or family saying, “I wish I had a...” or “It’s so annoying when…”, you might be onto something.
Research, Research, Research: Once you have an idea, dig deeper. Use the internet to explore what products are already out there and how you can make yours better or different. Google Trends can show you what people are searching for, and social media platforms can offer insights into current trends and customer needs.
Test Your Idea: Before going all in, get feedback. Talk to potential customers about your product idea. You could create a simple survey using tools like Google Forms or SurveyMonkey and share it on social media to gather opinions.
Start Small: You don’t need a huge inventory to start. Begin with a small batch of products to see how they sell. Platforms like Etsy, eBay, or even Instagram and Facebook can be great places to sell without needing a physical store.
Use Free Tools: Leverage free apps and online tools to manage your business. Canva can help with creating eye-catching product designs or promotional materials, while social media platforms are great for marketing your products.
Learn from Others: Look for stories of people who have started successful businesses. What challenges did they face? What strategies worked for them? YouTube, podcasts, and business blogs are full of insights from entrepreneurs.
Keep Costs Low: In the beginning, try to keep your expenses as low as possible. This might mean doing a lot of the work yourself, from product development to marketing and sales.
Adapt and Improve: Be open to changing your product based on customer feedback. The most successful businesses are always looking for ways to improve and meet their customers’ needs better.
Stay Patient and Persistent: Success rarely happens overnight. It takes time to build a customer base and work out the kinks in your product or business model. Keep pushing forward, and don’t get discouraged by setbacks.
Remember, finding the right product to sell is a journey of discovery. Embrace the process, be open to learning, and stay focused on creating something that people need or love.
You are on your way to success!
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